VICTORIA, Oct. 16 /PRNewswire-FirstCall/ - Aspreva Pharmaceuticals
Corporation (NASDAQ: ASPV; TSX: ASV) today announced preliminary and
unaudited net revenues of approximately US $62 million for the third
quarter of 2007 compared to US $47.9 million revenue in the third quarter
of 2006.

As previously announced, Aspreva will release its full financial
results on Wednesday, October 31, 2007. The Company will hold a conference
call and webcast beginning at 2:00 p.m. Pacific Time (5 p.m. Eastern Time)
to discuss results and to provide a general corporate update.

About Aspreva Pharmaceuticals

Aspreva is a global pharmaceutical company focused on identifying,
developing, and, upon approval, commercializing evidence-based medicines
for patients living with less common diseases. Aspreva common stock is
traded on the NASDAQ Global Select Market under the trading symbol "ASPV"
and on the Toronto Stock Exchange under the trading symbol "ASV". Learn
more at http://www.aspreva.com.

Conference Call

Aspreva will host a conference call to discuss results for the third
quarter 2007 on Wednesday, October 31, 2007 at 2:00 p.m. Pacific Time (5:00
p.m. Eastern Time).

Dial-in information:

North America (toll free): 1-866-202-0886

International: 1-617-213-8841

Enter passcode: 14829169

The call will be available for replay until Wednesday, November 7th, by
calling 1-888-286-8010 (North America) or 1-617-801-6888 (International)
and entering the pass code 79726236.

A live webcast will also be available to all interested parties on
Aspreva's website: http://www.aspreva.com. Please click on the "Webcasts and
Events" link under the Investors section. A replay of the webcast will be
available until the Company's fourth quarter 2007 conference call.

The revenue figures in this press release are preliminary and unaudited
and are not a complete disclosure of our quarterly financial results.
Unless otherwise specified, all amounts are in U.S. dollars and are
reported under U.S. GAAP.

This news release contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform Act of
1995 and forward-looking information within the meaning of applicable
securities laws in Canada (collectively, "forward-looking statements"). The
words "anticipates", "believes", "budgets", "could", "estimates",
"expects", "forecasts", "intends", "may", "might", "plans", "projects",
"schedule", "should", "will", "would" and similar expressions are often
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. The
forward-looking statements in this news release include, but are not
limited to, statements concerning our strategy, future operations, clinical
trials, and prospects and plans of management.

Various estimates and assumptions were used in drawing the conclusions
or making the forecasts and projections contained in the forward-looking
statements in this news release. Certain risks, uncertainties and factors
are taken into account as part of our assumptions underlying the
forward-looking statements, including: our ability to successfully conduct
our clinical trials and studies; difficulties or delays in the progress,
timing and results of clinical trials and studies; difficulties or delays
in obtaining regulatory approvals; we may not be able to develop and obtain
regulatory approval for some of the products in our targeted indications;
our ability to succeed at establishing a successful commercialization
program for any of our products; the risk that we may not sustain our
profitability; our ability to attract and retain collaborations relating to
the development and commercialization of new indications; competition from
other pharmaceutical or biotechnology companies; our ability to raise
additional financing required to fund further research and development,
clinical studies, and obtain regulatory approvals, on commercially
acceptable terms or at all; economic and capital market conditions; our
ability to obtain and protect patents and other intellectual property
rights; our ability to operate without infringing the intellectual property
rights of others; our ability to comply with applicable governmental
regulations and standards; currency exchange rates; and our ability to
successfully attract and retain skilled and experienced personnel.

Although we have attempted to identify the important risks,
uncertainties and other factors that could cause actual results or events
to differ materially from those expressed or implied in the forward-looking
statements, there may be other factors that cause actual results or events
to differ from those expressed or implied in the forward-looking
statements. For a more thorough discussion of the risks associated with our
business, see the "Risk Factors" section in the Company's Quarterly Report
on Form 10-Q for the quarter ended June 30, 2007, filed with the U.S.
Securities Exchange Commission on EDGAR at http://www.sec.gov and on SEDAR at
http://www.sedar.com. All forward-looking statements are qualified in their
entirety by this cautionary statement and Aspreva undertakes no obligation
to revise or update any forward-looking statements as a result of new
information, future events or otherwise after the date hereof.

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